“CRA, subprime & Easy Credit aren’t the same things.”
They all stem from the same place....liberal/leftist policies and laws. Sorry..but once again..I trust the WSJ and Investor’s Business Daily over the propagandists from the left wing state run media machine. They have lost all credibility with most of the American people.I wasn’t making a personal attack on Mr. Campbell..I was pointing out to you that the man wrote many articles defending the CRA and investigating ‘unfair lending’ for many years. He has a dog in the fight.
No, they are not.
Alan Greenspan was a disciple of Ayn Rand, not a leftist. The repeal of the Glass-Steagall act wasn’t some leftist victory. The decision to not regulate CDO’s wasn’t part of the leftist propaganda.
Subprime is nothing more than a risk assessment tool. The more risk you are as a lender, the higher your interest rate. That’s all it is.
IBD & WSJ was blindsided by the collapse, do you really want to trust them?
A CRA mortgage isn’t the same as a sub-prime mortgage. For example if CRA’s was the cause for the collapse, then older heavily African-American cities would be leading the subprime defaults, Cleveland, Gary, NYC, Philadelphia, Baltimore, etc... Instead the data shows that Las Vegas, Arizona, California and Florida lead the way.
Mr. Campbell’s raw data is there for you to look at, you can go out and verify everything he’s done.